The Apple Card is similar to other cards in the sense that it is a Mastercard-branded credit card with similar contactless payment processing methods. Goldman Sachs is Apple Card’s issuer, while the payments infrastructure behind the card works on the Mastercard credit card network. Now, anyone with an Apple device and a suitable credit score can obtain it from the Apple Card website. Initially, Apple Card applications were only from the wallet app, restricting its availability to iPhone users. These include no penalties for late payments, the absence of commonly seen credit card charges, and immediate cashback for eligible rewards. The Apple Card is a unique credit card that’s equipped with a number of consumer-friendly features. It looks closely at the products Apple Card and Apple Pay Later and seeks to explain what this means for merchants, customers, and the dispute process. This blog examines Apple's blurring tech and finance boundaries. After that, they launched the Apple Card in 2019, And now Apple is creating ripples with its foray into the buy-now-pay-later (BNPL) segment with its latest offering Apple Pay Later. The tech giant’s finance journey first unfolded with supporting contactless payments using Apple Pay in 2014. However, their penetration in the space has only grown deeper over time as the electronics retail giant increases its bets in the space. A new code is created each time you pay somewhere that accepts Apple Pay, making your financial data safer from being cloned or stolen.Apple has been playing around in the consumer finance arena for a while. Apple Pay works by ensuring your credit or debit card number and information is encrypted and never shared with the merchant when you check out. Using Apple Pay or Google Pay at checkout is more secure than swiping or inserting your card.
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